Breaking News

You are here » Indian-Commodity  :  Corporate  :  S&P assigns 'A-1+' rating to ICICI Bank's proposed $300 million USCP program

18-Dec2012

S&P assigns 'A-1+' rating to ICICI Bank's proposed $300 million USCP program

Standard & Poor's Ratings Services (S&P) has assigned 'A-1+' short-term issue rating to ICICI Bank's proposed $300 million US commercial paper (USCP) program. This program is supported by a $300 million irrevocable direct-pay letter of credit (LC) issued by Wells Fargo Bank N.A.

The 'A-1+' rating on this program is equivalent to the short-term counterparty credit rating on Wells Fargo. The Bank will issue the USCPs through its overseas branches in Hong Kong, Bahrain, and New York.

Earlier this month, India's largest private sector bank had raised 100 million Swiss Francs through a seven-year bond issue. The bonds had been rated 'Baa2/stable' by Moody's and 'BBB-/negative' by Standard & Poor's.


Related News

View all news

Hinduja Global-Mphasis deal receives CCI approval

The Competition Commission of India (CCI) has approved Hinduja Global Solutions' (HGS) proposed acquisition of certain BPM and BPO assets of Mphasis and Msource. HGS has entered into a definitive agreement......

Emami reports 24% rise in Q1 consolidated net profit

Emami has reported results for first quarter ended June 30, 2015. The company has reported a rise of 32.01% in its net profit at Rs 86.81 crore for the quarter ended June 30, 2015 as compared to Rs 65.76......

Welspun Corp eyeing to raise up to Rs 500 crore through securities

Welspun Corp, the flagship company of $3 billion Welspun Group, will seek shareholders' approval to raise up to Rs 500 crore through issue of securities. This step has been taken in order to augment resources......

Top News

View all news

Maruti, Chambal Fertilisers and Nestle India to see some action

Maruti Suzuki India, country's largest car maker, has reported 19.46% rise in its production to 133311 units in July 2015 as compared to 111596 units in same month last year. Of total, the company manufactured......

RBI keeps the rate unchanged; lowers inflation forecast

Much on the expected lines the Reserve Bank of India (RBI) in its Third Bi-monthly Monetary Policy Review, 2015-16, kept the repo rate, at which it lends to the system, unchanged at 7.25% and the cash......

Bharti Airtel, GlaxoSmithKline Pharma and Wockhardt to see some action

Bharti Airtel has acquired mobile payments solutions company - YTS Solutions - to integrate its payments and remittance businesses with Airtel. The acquired business will be integrated with the operations......